Banks shying away from fossil fuels bolster private credit deals
Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into a void left by banks exiting assets they worry pose too big a climate risk.
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Visit: 25
BMO bankers sent each other crude memes before they were fired
Junior bankers who were recently fired from Bank of Montreal’s metals and mining group used work-sharing platforms to circulate crude jokes and at least one obscene image, which were discovered during an internal investigation after another employee complained, according to people with knowledge of the matter.
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Visit: 72
Metals sanctions are dividing the biggest traders and banks
The latest UK sanctions on Russia are creating new faultlines across the global metals world, in the latest example of how the fallout from the war in Ukraine continues to ripple through commodity markets while creating opportunities for those willing to navigate the restrictions.
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Visit: 204
Gold demand to hit record with central bank buying, WGC says
Total gold demand hit a record last year and is expected to expand again in 2024 as the US Federal Reserve moves toward cutting interest rates, potentially aiding prices, according to the World Gold Council.
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Visit: 91
Iron ore price drops as China central bank’s rate move defies expectation
Iron ore futures prices dropped for a second consecutive session on Monday as top consumer China defied market expectations and stood pat on its medium-term interest rate, leaving traders disappointed.
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Visit: 86
Record resources deals rescue a dim year for Australian bankers
Mining News Pro - Energy and mining deals have dominated Australia’s dealmaking scene like never before this year.
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Visit: 62
NICICO and Sadaret Bank signed a memorandum of cooperation
Mining News Pro - A memorandum of cooperation was signed between Iran's National Copper Industries Company and Saderat Bank.
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Visit: 149
Stornoway Diamond files for bankruptcy for second time, stops operations at Quebec site
Mining News Pro - Stornoway Diamond Inc. is filing for bankruptcy protection for the second time in four years as the miner struggles to deal with volatile pricing on global markets.
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Visit: 179
One big gold seller among central banks has even more to offload
Mining News Pro - In a turnaround that’s already taken it from one of the world’s biggest gold buyers to a top seller this year, Kazakhstan’s central bank is looking to cut the metal’s share to as low as half of its $34.5 billion reserves
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Visit: 117
Gold price firms with spotlight on central bank meetings
Mining News Pro - Gold prices bounced back on Tuesday on a weaker dollar and expectations that the US Federal Reserve will likely end its monetary tightening cycle after a widely expected rate hike this week.
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Visit: 122
Increasing interaction and cooperation between Nicico and Maskan Bank
Mining News Pro - The CEO of National Iranian Copper Industries Company met with the head of Maskan Bank.
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Visit: 180
Reduced appetite from central banks to bring gold demand down in 2023
Mining News Pro - Demand for gold will drop 9% to 4,375 metric tons this year with central banks’ appetite falling from last year’s all-time high, consultancy Metals Focus said, adding that gold prices would be under pressure in the second half of 2023.
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Visit: 138
Trafigura tells its banks they aren’t exposed to nickel fraud
Mining News Pro - Trafigura Group is briefing lenders that none of its banks have direct exposure to the nickel deals at the center of what the commodity trader is calling a systematic fraud perpetrated against it.
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Visit: 214
Mining loans seen passing $1 billion at biggest Congo bank
Mining News Pro - Rawbank Sarl forecast its lending to the Democratic Republic of Congo’s mining industry will jump more than 20% to over $1 billion this year, buoyed by rising demand and strong prices for the country’s strategic minerals.
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Visit: 150
EU urges European banks to step up funding for critical minerals
Mining News Pro - European Commissioner Thierry Breton urged European financiers this week to provide more funding to suppliers of minerals needed for the energy transition, as the European Union prepares its Green Deal industrial plan.
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Visit: 200
Russia’s Sberbank urges Glencore to resolve dispute over oil bill
Mining News Pro - Sberbank on Monday accused Glencore of choosing not to foot a bill for oil supplied via the Russian lender, saying the global commodities trader could have found a way to pay up without violating Western sanctions.
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Visit: 255
Mystery whales baffle gold market after central bank purchases
Mining News Pro - A normally dry research report jolted the gold market this week, when it pointed to massive but so far unidentified sovereign buyers.
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Visit: 374
Chinese Steel Manufacturers On The Brink Of Bankruptcy
Mining News Pro - Is it all doom and gloom for Chinese steel manufacturing? It’s hard to tell at the moment. Indeed, China finds itself in a precarious place financially. What’s more, a sizable section of global financial and stock analysts have predicted the crises will only get worse as the country prepares to face its toughest winter yet.
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Visit: 826
Brazil central bank recruited to save Amazon from illegal mining
Mining News Pro - The threat to the Brazilian Amazon posed by illegal mining is so big that the formal mining industry is trying to get the country’s central bank involved.
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Visit: 462
Gold price recovers as European Central Bank raises rates higher than expected
Mining News Pro - Gold prices regained ground after falling to the lowest level in 15 months as the European Central Bank took some investors by surprise and raised rates by 50 basis points on Thursday.
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Visit: 429
Banks step up trade finance in global commodities boom
Mining News Pro - Major banks are ratcheting up funds for the global commodities trade as Russia’s war in Ukraine drives up prices for everything from crude oil to corn.
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Visit: 661
Gold price bound for worst quarter in five, pressured by central banks’ hawkish rhetoric
Mining News Pro - Gold experienced a relatively larger decline on Thursday following a string of sluggish sessions this week, and is now headed for its worst quarter in five as the hawkish tone from global central banks continues to dim the metal’s appeal.
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Visit: 503
Iron ore price down ahead of China’s central bank rate announcement
Mining News Pro - Iron ore prices fell on Tuesday as fresh covid-19 outbreaks in China clouded demand prospects in the world’s top steel producer.
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Visit: 647
Central banks to increase gold holdings over crisis concerns
Mining News Pro - Central banks see gold as a reserve asset and will likely increase their holdings of the metal in the next twelve months, according to a survey by the World Gold Council.
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Visit: 704
Yamana wants banks to improve terms after S&P upgrade
Mining News Pro - Yamana Gold Inc., which operates mines in four countries including Canada and Argentina, is seeking better terms from lenders including Bank of Nova Scotia and Citigroup Inc. after earning an upgrade from S&P Global Ratings.
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Visit: 532